$GAGE, an Ontario-based cannabis company, received a bullish $4.25 price target from Viridian Capital today with Eight Capital also giving a price target of $6.50 on May 4th. Both of the bullish price targets estimate annual revenues to reach $310M+ by 2022 with EBITDAs of $100M+. Was alerted to the price targets on Twitter: https://twitter.com/AllStreetsWolf/status/1390371499706617858?s=20 , https://twitter.com/AllStreetsWolf/status/1389602098183090177?s=20
They're seeing some explosive growth in the cannabis industry which was highlighted in the financial report released last week.
- 1,972% YoY Growth in Gross Revenues to $40M for 2020
- $10.5M in Q4 (600%+ YoY Growth)
- $505,000 in sales on 4/20 alone!
Amazing work by $GAGE also decreasing their net loss from -$75M to -$30M (2019-2020). The 2020 results have gotten me super excited for the future as they continue to rapidly expand and grow the business. Link to the results: https://ca.finance.yahoo.com/news/gage-growth-corp-announces-fiscal-110000702.html
The CEO, Fabian Monaco, also participated in the Cannabis Investor Series where they discussed the huge potential for cannabis in markets across the US, partnerships/growth in the Michigan market, and their strategy to grow the brands. Great stuff from the CEO: https://www.youtube.com/watch?v=MGGxbLqq0P0 (Starts at around 1:33:11)
Currently, the stock is sitting at a $330M market cap with a share price of $2.40 (Ripping up 6% today). Super confident that this will be a very profitable investment in the future as the stock is recovering back up to the IPO price since hitting the bottom back in April.